Sahara Group, Subrata Roy passes away
Subrata Roy, the chairman of the Sahara Group, passed away on Tuesday due to a cardiorespiratory arrest after a prolonged illness, as stated by a company release. At the age of 75, Roy, who had established a significant business presence spanning retail, real estate, and financial services, faced considerable controversy, grappling with multiple legal and regulatory challenges linked to his group companies accused of skirting regulations through Ponzi schemes—a charge consistently refuted by his group.
According to the company’s announcement, he was admitted to Mumbai’s Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute on Sunday due to a deterioration in his health. Subrata Roy succumbed to a cardiorespiratory arrest at the hospital at 10.30 pm on Tuesday, concluding a protracted battle against complications arising from metastatic malignancy, hypertension, and diabetes.